North America Container Terminal Operations Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Container Terminal Operations Market Analysis
- The North America Container Terminal Operations Market is anticipated to register a CAGR of greater than 4% during the forecast period. The region is also seeing an increase in the demand for operational efficiency while lowering its environmental effect. In addition, there is anticipated to be an increase in the demand for energy vessels from various private sectors.
- The complexity of container terminal services mostly depends on the kind of shipping and cargo. Cars, goods, crude oil, minerals, and other sorts of cargo are all examples of cargo. To handle and manage different types of cargo, various equipment, skills, and labor are needed. The handling of the ferry services requires several types of ports. Accidents have occurred as a result of the container terminal's operations being less efficient than desired. Therefore, the activities at the container terminal should be perfect and extremely efficient. Operations at container terminals are hence the foundation of the maritime sector.
- The global supply chain in the maritime industry has been facing a series of challenges since the start of the COVID-19 pandemic in early 2020. The North American marine port services industry was plagued by port closures caused by coronavirus outbreaks, port congestions, rising bunker fuel prices, and issues with capacity utilization during the majority of 2020 and 2021. This has led to delays in the shipping industry affecting the freight container supply chain through 2020 to 2022.
North America Container Terminal Operations Market Trends
This section covers the major market trends shaping the North America Container Terminal Operations Market according to our research experts:
Initiatives towards Greener Industrial Port Activities
The switch to greener energy is currently underway throughout the world. It is anticipated that between 2030 and 2050, an average annual investment of USD 40 to USD 60 billion will be needed to reduce shipping emissions by half. The majority of this will be used to create alternative fuels like ammonia, hydrogen, and methanol, as well as new land-based infrastructure for storage and bunkering.
Major effects of the energy shift on ports are evident as reduced oil trading means less money to store and distribute fossil fuels. Ports are consequently seeking to create new markets and value-added services in order to get ready for a future without carbon fuels (The Conversation, 2021 and Manners-Bell, 2021). Further, the government and companies are trying to achieve their goals for investing in environmental sustainability. (IAPH-WPSP, 2021). These include facilities for producing alternative energy, importing alternative fuels, and bunkering and storing them to enable delivery. Additionally, ports have benefited from incentives for foreign investment and green infrastructure recovery initiatives, respectively.
Smart Port is a Growing Trend in Port Terminal and Operations Market
In the port terminal and operation business, smart ports are becoming more popular. The adoption of smart technology by harbor authorities is being driven by the growing need to reduce operational costs, collect real-time information, and make data-driven choices at port facilities. A typical port is converted into a smart port using several technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), blockchain, and process automation. To convert the traditional infrastructure into a digital one, these are either deployed separately or in combination. In comparison to traditional ports, the smart port has advantages such as lower operational costs, fewer disruptions caused by people, wiser decision-making, and more consistent performance. All of these advantages lead to increased production, which opens the door for a clear picture of Port 4.0.
The pressure on the yards and other stakeholders has increased due to the higher rate of global trade growth, which has increased vessel size, cargo volumes, and port traffic. The internal efficiency at the operational level at the ports is impacted by this added demand. By incorporating smart technologies, operational processes can be optimized while being more efficient and spending less on logistics. The installation of sensors at the ports aids in the scheduling of maintenance tasks, the monitoring of infrastructure, and the optimization of several other operational tasks. Therefore, throughout the projected period, the desire for operational efficiency at ports may fuel the expansion of the smart port market.
North America Container Terminal Operations Industry Overview
Viking Line, Rhenus Group, Mediterranean Shipping Company S A, Construction Navale Bordeaux, MEYER WERFT GmbH & Co., KG, Bayliner, Ports America Inc, and SSA Marine are market participants in the North American container terminal operations market. The market is expected to grow due to economic growth, growing population, and growing industrialization. However, the lack of the government's commitment to the development of seaports and reconfigured supply chains, with the growing local production and consumption units is thereby hampering the market growth.
To increase market share, manufacturers and service providers prioritize customer happiness, capacity growth, and fleet modernization. The enterprises are able to thrive in this fiercely competitive market by keeping constant touch with shipping companies throughout the region.
North America Container Terminal Operations Market Leaders
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Viking Line
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Rhenus Group
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Mediterranean Shipping Company S A
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Construction Navale Bordeaux
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MEYER WERFT GmbH & Co., KG
*Disclaimer: Major Players sorted in no particular order
North America Container Terminal Operations Market News
March 2022: Viking Line contracts with Wärtsilä solutions for the new vessel. Wärtsilä will provide technical management for a broad scope of solutions installed on Viking Line's new climate-smart vessel Viking Glory under a three-year contract.
November 2021: Maersk North America's warehousing and distribution (WnD) business, called Performance Team - A Maersk Company has signed an agreement with the Massachusetts Institute of Technology's Center for Transportation & Logistics (MIT CTL) to accelerate the company's innovative supply chain solutions and further expand its capabilities through cutting edge research across North America.
North America Container Terminal Operations Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Value Chain / Supply Chain Analysis
4.4 Technological Advancements
4.5 Government Regulations and Key Initiatives
4.6 Insights into Transshipment Trade
4.7 Insights into Containerized and Non-containerized Shipments
4.8 Freight Rates and Maritime Transport Costs
4.9 Demand-Supply Analysis
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Service
5.1.1 Stevedoring
5.1.2 Cargo and handling transportation
5.1.3 Others
5.2 By Cargo Type
5.2.1 Crude Oil
5.2.2 Dry Cargo
5.2.3 Other Liquid Cargo
5.3 By Country
5.4 US
5.5 Canada
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Viking Line
6.2.2 Rhenus Group
6.2.3 Mediterranean Shipping Company S A
6.2.4 MEYER WERFT GmbH & Co., KG
6.2.5 Bayliner
6.2.6 Ports America Inc
6.2.7 SSA Marine
6.2.8 Husky Terminal and Stevedoring, LLC
6.2.9 Indiana Port Commission
6.2.10 Mississippi State Port Authority at Gulfport*
- *List Not Exhaustive
7. FUTURE OF NORTH AMERICA CONTAINER TERMINAL OPERATIONS MARKET
8. APPENDIX
North America Container Terminal Operations Industry Segmentation
Companies that run ports, including docking and pier facilities, are part of the container terminal operation sector. Cargo loading and unloading from ships, preparing paperwork for incoming shipments to meet customs requirements, using a computer system to connect cargo with recipients, and loading and unloading cargo onto trucks and trains are among the main tasks.
The North America Container Terminal Operations Market is segmented By Service (Stevedoring, Cargo Handling & Transportation, and Others), By Cargo Type (Dry Cargo, Crude Oil, and Other Liquid Cargo), and By Country (US and Canada). The report offers market size and forecasts for Global Container Terminal Operations Market in value ( USD Billion ) for all the above segments.
| By Service | |
| Stevedoring | |
| Cargo and handling transportation | |
| Others |
| By Cargo Type | |
| Crude Oil | |
| Dry Cargo | |
| Other Liquid Cargo |
North America Container Terminal Operations Market Research FAQs
What is the current North America Container Terminal Operations Market size?
The North America Container Terminal Operations Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in North America Container Terminal Operations Market?
Viking Line, Rhenus Group, Mediterranean Shipping Company S A, Construction Navale Bordeaux and MEYER WERFT GmbH & Co., KG are the major companies operating in the North America Container Terminal Operations Market.
What years does this North America Container Terminal Operations Market cover?
The report covers the North America Container Terminal Operations Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Container Terminal Operations Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Container Terminal Operations Industry Report
Statistics for the 2024 North America Container Terminal Operations market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Container Terminal Operations analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
North America Container Terminal Operations Report Snapshots
